New York Markets After Hours

Oil turns lower after EIA supply report

LOS ANGELES (MarketWatch) -- Oil futures fell Friday after the U.S. Energy Information Administration reported a smaller-than-expected decline in crude supplies for the week ended Dec. 21. Crude supplies fell by 600,000 barrels. Analysts polled by Platts expected a 2 million-barrel decline. Motor gasoline supplies rose by 3.8 million barrels, while distillate stocks rose by 2.4 million barrels, the EIA report said. Analysts had forecast a rise of 250,000 barrels for gasoline inventories and a decline of 350,000 barrels in distillate supplies. Following the latest data, February crude
clg3
traded at $90.73 barrel, down 16 cents, or 0.2%. It was trading around $91.20 ahead of the report. The American Petroleum Institute reported late Tuesday that crude supplies fell 1.2 million barrels last week.

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